Following seasonal patterns, U.S. hotel performance declined from the previous week but showed positive comparisons year over year, according to CoStar’s latest data through 26 August.
Australia’s occupancy through the first seven months of the year was 68.2%, which was up 9.8% from last year but down 6.0% from 2019. Average daily rate (ADR) of AUD234.46 was 7.4% higher than last year and 22.4% better than 2019.
Hotels in urban markets have yet to fully recover to pre-pandemic levels of group occupancy and rates, while resorts and suburban hotels have surged ahead.
Following seasonal patterns, U.S. hotel performance declined from the previous week but showed most positive comparisons year over year, according to CoStar’s latest data through 19 August.
Canada’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) for any month on record, according to CoStar’s July 2023 data.
Hoteliers said resort or amenity fees likely aren't going away, as they are a profitable revenue stream. However, they agree the industry as a whole could do better with fee transparency throughout a guest's booking journey.
As the hotel industry navigates periods of lower demand from travelers, many hoteliers are optimistic about the prospects to boost revenues and capture more business and group travelers.
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.
Hoteliers and travel experts speaking at the 2023 Hotel Data Conference said leisure travelers want to feel like they're getting a good value in their stay and that they're getting what they pay for.
U.S. hotel performance declined from the previous week but showed mostly positive comparisons year over year, according to CoStar’s latest data through 12 August.